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  • PFL reports growth in operating revenue

    PFL reports growth in operating revenue

    BENGALURU: Integrated media services player Prime Focus Ltd (PFL) reported 20 per cent year-on-year (yoy) growth in operating revenue at Rs 609.61 crore for the quarter ended 31 December 2017 (Q3 2018, quarter, the quarter under review) as compared with Rs 508.03 crore for the corresponding year ago quarter (Q3 2017). Total income increased by 20.3 per cent yoy in Q3 2018 to Rs 612.21 crore from Rs 508.84 crore. The company, however, reported a net loss of Rs 7.03 crore for the quarter under review as compared with profit after tax (PAT) of Rs 28.18 crore in Q3 2017. The company says finance charges considered for Q3 2018 were higher by Rs 5.5 crore on account of change in accounting treatment towards redemption premium on Standard Chartered PE NCDs–expensed as against capitalised in the balance sheet in earlier quarters.

    Adjusted operating EBITDA for the quarter at Rs 157.34 crore (25.8 per cent of operating revenue) grew by 27.8 per cent yoy from Rs 123.16 crore (24.2 per cent of operating revenue). Adjusted EBIDTA of Rs 157.34 crore for Q3 2018 includes ESOP costs of Rs 4.21 crore, foreign exchange (forex) losses of Rs 2.51 crore and Rs 10 crore of non-operating non-cash forex charges on account of balance sheet translation exposure and approximately Rs 20 crore for certain one-time Montreal setup costs and conservative provisions at PFW/DNEG.

    Total expenditure in Q3 2018 increased by 25.9 per cent to Rs 610.09 crore from Rs 484.43 crore in Q3 2017. Employee benefits expense in Q3 2018 rose by 25.9 per cent to Rs 332.61 crore from Rs 268.74 crore in the corresponding quarter of the previous year. Technician fees more than doubled (2.08 times) to Rs 15.12 crore from Rs 7.27 crore in Q3 2017. Technical services cost in the quarter under review increased by 72.4 per cent to Rs 28.45 crore from Rs 16.50 crore in Q3 2017. Finance cost in Q3 2018 increased 97.6 per cent yoy to Rs 45.32 crore from Rs 22.94 crore in Q3 2017. Other expenditure in the quarter increased 14.9 per cent yoy to Rs 106.08 crore as compared to Rs 92.36 crore in the corresponding quarter of fiscal 2017.

    Commenting on the results, PFL founder, executive chairman and global CEO Namit Malhotra said, “We are pleased to report a strong quarter with continued momentum across businesses. Ourcreative services continued to deliver marquee projects such as recent Hollywood blockbusters – Thor: Ragnarok and Justice League which have grossed over $800 million and $600 million, respectively. Our order book includes good projects like Venom, which is the next movie in the Spiderman franchise. In tech/tech enabled business, we added new clients and invested in new talent to strengthen our reach in North America while India FMS continues to deliver robust profitability in line with our expectations.

    “Given the significant growth we have witnessed in our creative services business and continued momentum visible going forward, the board has decided that Vikas should focus all his energies toward helping manage this growth and maximise the potential at PFW/DNEG. Vikas has relocated to London and will now be fully focused on his role as the CFO of PFW/DNEG. Nishant Fadia has now been re-appointed as the CFO of PFL. As you may know, Nishant has been with Prime Focus for the last 18 years and was the CFO of PFL till 2014 and since then has been the COO for the Group. I wish them both the very best as we look to take the Prime Focus Group to greater heights in the years ahead.

    “We are happy to continue to deliver performance ahead of plans and look forward to ending FY18 on a higher note.”

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    Prime Focus reports flat results for first quarter

    Hotstar tech partner Prime Focus signs deals with Turner & sports broadcasters

  • Prime Focus reports flat results for first quarter

    BENGALURU: After the sale of certain investments and restructuring and integration costs in the previous fiscal (FY-17), including in the quarter ended 30 June 2016 (Q1-17), Prime Focus Limited (PFL) had reported healthy numbers for FY-17. The company has now reported almost flat revenue and EBIDTA numbers for the quarter ended 30 June 2017 (Q1-18, current quarter) as compared to Q1-17. Revenue Income from operations was 2.41 percent lower in the current quarter at Rs 5,135.22 million as compared to Rs 5,262.13 million in Q1-17. Total Income in Q1-18 was 0.82 percent lower year-over-year (y-o-y) at Rs 5,241.89 million as compared to Rs 5,285.09 million in Q1-17.

    EBIDTA including other income in the current quarter was flat (down 0.01 percent) at Rs 1,033.16 million (19.71 percent of Total Income) as compared to Rs 1,033.30 million (19.55 percent of Total Income) in Q1-17. The company says that adjusted EBIDTA was up 9 percent at Rs. 1,118mn (Q1-17: Rs. 1,023 million), with margin at 21.4 percent (Q1-17: 19.4 percent), with significant work being delivered on projects from India. The company reported foreign exchange gain for the period at Rs. 22 million.

    Total Expenditure in Q1-18 declined fractionally by 0.11 percent to Rs 5,239.58 million from Rs 5,245.19 million in Q1-17. Employee benefits expense in Q1-18 reduced 6.18 percent to Rs 2,966.46 million from Rs 3,161.77 million in the corresponding quarter of the previous year. Technician fees in Q1-18 reduced 1.30 percent to Rs 90.51 million from Rs 91.70 million in Q1-17. Technical Services cost in the current quarter fell by 18.86 percent to Rs 134.35 million from Rs 165.59 million in Q1-17. Finance cost in Q1-18 increased 24.08 percent to Rs 376.38 million from Rs 303.32 million in Q1-17. PFL says that Finance costs in the current quarter includes non-operating charges of Rs. 85 millon on account of amortizations of debt like items Other Expenditure in the current quarter increased 9.41 percent to Rs 911.06 million as compared to Rs 832.73 million in corresponding quarter of fiscal 2017.

    In its investor presentation, PFL says that its creative services revenue in Q1-18 was Rs 4,042 million, while in Q1-17 it was Rs 4,052 million. Adjusted EBIDTA for creative services increased in Q1-18 to Rs 804 million (19.9 percent margin) from Rs 682 million (16.8 percent margin) in Q1-17. The company says that EBITDA margin increased as India integration proceeded at a steady pace; significant work continued to be delivered on projects from India, and steps were being taken to upsize and upskill the Indian workforce. PFL launched PFAMES (Prime Focus Academy of Media & Entertainment Studies) for training entry level personnel in India. It claims that it has delivered movies like Transformers: The Last Knight, Wonder Woman, The Mummy, Pirates of the Caribbean: Dead Men Tell No Tales and King Arthur: Legend of the Sword among others. PFL says that it has an order book at in excess of $250 million with projects like M:I 6 – Mission Impossible, Godzilla Sequel, Pacific Rim: Uprising, American Assassin, Justice League, Geostorm, Avengers, Alpha, Blade Runner 2049, Thor Ragnarok and other major unannounced projects.

    PFL’s Tech/Tech Enabled services revenue in Q1-18 was slightly lower at Rs 822 million as compared to Rs 841 million in the corresponding year ago quarter. EBIDTA for Tech/Tech Enabled services increased to Rs 223 million (27.1 percent margin) from Rs 220 million (26.1 percent margin). Its order book for Tech/Tech Enabled services was at $200 million to be executed over next 3 to 5 years.

    ALSO READ :

    Prime Focus reports profit for third quarter of 2017

    Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    Reliance MediaWorks acquires 30 per cent stake in Prime Focus

  • Prime Focus turns around

    Prime Focus turns around

    BENGALURU: Prime Focus Limited (PFL) has reported robust financial performance, including consolidated profit after tax (PAT) for the period ended 31 March 2017 (quarter – Q4-17 and current quarter, current fiscal; year FY-17 and current year) as compared to the corresponding year ago periods – Q4-16 and FY-16 respectively. PFL reported consolidated PAT for FY-17 at Rs 1,397.39 million as compared to a consolidated loss of Rs 3,168.29 million in fiscal 2016. For the current quarter, PFL reported consolidated PAT of Rs 457.66 million as compared to a consolidated loss of Rs 2,648,86 million in FY-16.

    The company’s consolidated total revenue from operations (TR) in FY-17 increased 55.7 percent to Rs 21,536.25 million from Rs 13,828.15 million in the previous year. Consolidated total Income in the current year increased 52.5 percent to Rs 21,780.76 million from Rs 14,283.57 million in the previous year.

    In its investor presentation, PFL says that strong growth across businesses drove consolidated income growth of 14 percent primarily led by encouraging growth in Creative Services driven by additional capacity and deliveries from India. Creative and Tech/Tech Enabled services contributed 78 percent and 16 percent, respectively. The company’s three main businesses are Creative Services – it works on Hollywood Blockbusters; Technology Services; and Films and Media Services (FMS) where it works mainly with Indian films.

    PFL’s adjusted EBIDTA for FY-17 increased 50 percent to Rs 5,014 million from Rs 3,348 million in FY-16.

    Total Expenditure in FY-17 increased 29.2 percent to Rs 21,261.99 million from Rs 1,6454,04 million in FY-16. Employee benefits expense in FY-17 increased 41.5 percent to Rs 12,163.23 million from Rs 8,596.69 million in the previous year. Technicians fees in FY-17 increased 49.4 percent to Rs 368.92 million from Rs 246.95 million in FY-16. Technical Services cost in the current year increased by 28.5 percent to Rs 591.61 million from Rs 460.37 million in FY-16. Employee Stock Options or ESOP costs in fiscal 2017 increased by almost six-fold in FY-17 to Rs 256.69 million as compared to Rs 42.83 million in the previous year.

    Finance cost in FY-17 reduced 51.2 percent to Rs 1,278.73 million from Rs 2,620.21 million in FY-16.

    Other Expenditure in the current year increased 54.1 percent to Rs 3,841.70 million as compared to Rs 2,492.55 million in fiscal 2016.

  • Prime Focus reports profit for third quarter of 2017

    BENGALURU: Prime Focus Limited (PFL) reported consolidated Profit After Tax (PAT) of Rs 22.68 crore (4.5 percent margin) for the period ended 31 December 2016 (Q3-17, current quarter) as compared to a loss of Rs 19.43 lakh in the corresponding year ago quarter Q3-16. The company’s consolidated simple EBIDTA without other income in Q3-17 at increased 56.7 percent year-over-year (y-o-y) to Rs 111.01 crore (21.9 percent margin) from Rs 70.86 crore (15.1 percent margin).

    PFL’s consolidated Total Income from operations (TIO) in Q3-17 increased 8.3 percent y-o-y in the current quarter to Rs 507.19 crore from Rs 468.52 crore.

    Total Expenditure in Q3-17 was almost flat (increased 0.5 percent) to Rs 461.49 crore (91 percent of TIO) from Rs 459.32 crore (98 percent of TIO) in Q2-16. Employee benefits expense in Q3-17 declined 4.9 percent to Rs 268.73 crore (53 percent of TIO) from Rs 282.64 crore (60.3 percent of TIO) in the corresponding quarter of the previous year.

    Finance cost in Q3-17 reduced 26.3 percent to Rs 22.94 crore (4.5 percent of TIO) from Rs 32.12 crore (6.6 percent of TIO) in Q3-16.

    Technicians fees in Q3-17 reduced by 7.7 percent to Rs 7.27 crore (1.4 percent of TIO) from Rs 7.88 crore (1.7 percent of TIO) in Q3-16. Technical Services cost in the current quarter reduced by 16.1 percent to Rs 16.50 crore (3.3 percent of TIO) from Rs 19.67 crore (4.2 percent of TIO) in Q3-16.

    Commenting on the results, PFL founder, executive chairman and global CEO Namit Malhotra said, “We are very happy to report strong financial performance this quarter as we move well ahead of set targets. We are today positioned as a leader in all three of our businesses i.e. Creative Services, Technology Services and India FMS and are witnessing accelerating growth along with increasing industry recognition and acclaim.

    We are pleased to share that our Creative Services delivered VFX on the recent Hollywood blockbuster Fantastic Beasts and Where to find them which is amongst the top 10 movies of 2016 and has grossed over $800 million at the box office. Our creative order book is robust $250 million with many upcoming prestigious projects. Our Tech/Tech Enabled business grew steadily adding new clients and orders while the India FMS business continues to do well, growing robustly with high margins, a testimony of our superior quality.

    We have established a global track record in delivering top-end, innovative and commercially successful projects. We are beginning to clearly see the benefits of working on a larger canvas.”

    Notes: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Prime Focus operating profit up 94 percent

    Prime Focus operating profit up 94 percent

    BENGALURU:  Prime Focus Limited (PFL) reported 93.7 percent growth in operating profit (EBIDTA) for the twelve month period between 1 April 2015 and 31 March 2016 (12M-16) as compared to the corresponding period of the previous year. The company reported EBIDTA for 12M-16 at Rs 329.7 crore (17.3 percent EBIDTA margin of net sales or Total Income from Operations or TIO) as compared to Rs 170.2 crore (13 percent EBIDTA margin of TIO) for 12M-15.

    TIO for 12M-16 increased 45.7 percent to Rs 1,901 crore from Rs 1,304.4 crore in the corresponding 12 month period of the previous year. The company reported a higher loss of Rs 318.5 crore as compared to a loss of Rs 87.2 crore in the previous year.

    Notes:(1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence y-o-y comparison is being done between Q3-16 and Q3-15 and q-o-q comparison is between Q3-16 and  Q2-16 (quarter ended 31 December 2015).

    Total Expenditure in 12M-16 increased 38.5 percent to Rs 1,571.3 crore (82.7 percent of TIO) from Rs 1,134.2 crore (87 percent of TIO in 12M-15. Personnel cost that included employee benefits expense and technicians fees in 12M-16 increased 36.1 percent to Rs 415.3 crore (21.8 percent of TIO) from Rs 305.2 crore (23.4 percent of TIO) in the previous corresponding twelve month period.

    Finance cost in 12M-16 increased 65.7 percent to Rs 107.4 crore (5.6 percent of TIO) from Rs 64.8 crore (5 percent of TIO) in 12M-15.

    Let us look at the numbers for Q3-16

    For the quarter ended 31 March 2016 (Q3-16, current quarter), PFL reported 10.7 percent year-over-year (y-o-y) growth in TIO at Rs 465.7 crore as compared to Rs 420.54 crore, but revenue declined by 0.8 percent quarter-over-quarter (q-o-q) from Rs 468.52 crore. EBIDTA in the current quarter at Rs 160.20 crore (34.4 percent EBIDTA margin of TIO)was 52.4 percent higher y-o-y as compared to Rs 105.15 crore (25 percent EBIDTA margin of TIO) and more than doubled (2.24 times) as compared to Rs71.56 crore (15.3 percent EBIDTA margin of TIO.

    The company’s loss in Q3-16 was higher both y-o-y and q-o-q. For Q3-16, PFL reported loss of Rs 80.10 crore, for Q3-15 loss was Rs 20.29 crore and for the immediate trailing quarter it was Rs 11.40 crore.

    For other numbers for Q3-16 and previous quarters, please refer to Figures A and B below.

     

     

  • Prime Focus operating profit up 94 percent

    Prime Focus operating profit up 94 percent

    BENGALURU:  Prime Focus Limited (PFL) reported 93.7 percent growth in operating profit (EBIDTA) for the twelve month period between 1 April 2015 and 31 March 2016 (12M-16) as compared to the corresponding period of the previous year. The company reported EBIDTA for 12M-16 at Rs 329.7 crore (17.3 percent EBIDTA margin of net sales or Total Income from Operations or TIO) as compared to Rs 170.2 crore (13 percent EBIDTA margin of TIO) for 12M-15.

    TIO for 12M-16 increased 45.7 percent to Rs 1,901 crore from Rs 1,304.4 crore in the corresponding 12 month period of the previous year. The company reported a higher loss of Rs 318.5 crore as compared to a loss of Rs 87.2 crore in the previous year.

    Notes:(1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence y-o-y comparison is being done between Q3-16 and Q3-15 and q-o-q comparison is between Q3-16 and  Q2-16 (quarter ended 31 December 2015).

    Total Expenditure in 12M-16 increased 38.5 percent to Rs 1,571.3 crore (82.7 percent of TIO) from Rs 1,134.2 crore (87 percent of TIO in 12M-15. Personnel cost that included employee benefits expense and technicians fees in 12M-16 increased 36.1 percent to Rs 415.3 crore (21.8 percent of TIO) from Rs 305.2 crore (23.4 percent of TIO) in the previous corresponding twelve month period.

    Finance cost in 12M-16 increased 65.7 percent to Rs 107.4 crore (5.6 percent of TIO) from Rs 64.8 crore (5 percent of TIO) in 12M-15.

    Let us look at the numbers for Q3-16

    For the quarter ended 31 March 2016 (Q3-16, current quarter), PFL reported 10.7 percent year-over-year (y-o-y) growth in TIO at Rs 465.7 crore as compared to Rs 420.54 crore, but revenue declined by 0.8 percent quarter-over-quarter (q-o-q) from Rs 468.52 crore. EBIDTA in the current quarter at Rs 160.20 crore (34.4 percent EBIDTA margin of TIO)was 52.4 percent higher y-o-y as compared to Rs 105.15 crore (25 percent EBIDTA margin of TIO) and more than doubled (2.24 times) as compared to Rs71.56 crore (15.3 percent EBIDTA margin of TIO.

    The company’s loss in Q3-16 was higher both y-o-y and q-o-q. For Q3-16, PFL reported loss of Rs 80.10 crore, for Q3-15 loss was Rs 20.29 crore and for the immediate trailing quarter it was Rs 11.40 crore.

    For other numbers for Q3-16 and previous quarters, please refer to Figures A and B below.

     

     

  • Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    BENGALURU: Prime Focus Limited (PFL) reported 47 per cent YoY revenue growth for the quarter ending 31 December, 2015 (Q2-2016, current quarter) at Rs 468.52 crore from Rs 318.67 crore in Q2-2015 and 4.4 per cent higher QoQ as compared to Rs 448.57 crore in the immediate trailing quarter. The company reported more than double (2.02 times) YoY EBITA at Rs 75.56 crore (15.3 per cent margin) as compared to Rs 35.48 crore (11.1 per cent margin) and 37.4 per cent higher QoQ as compared to Rs 52.07 crore (11.6 per cent margin).

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore
    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence YoY comparison is being done between Q2-2016 and Q2-2015 and QoQ comparison is between Q2-2016 and Q1-2016 (quarter ended September, 2015).

    The company reported a lower net loss of Rs 11.40 crore in Q2-2016, a loss of Rs 36.17 crore in Q2-2015 and a loss of Rs 22.51 crore in Q1-2016. 

    Let us look at the other numbers reported by PFL

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q2-2016 at Rs 284.10 crore (62.4 per cent of TIO) was 43.8 per cent higher YoY as compared to Rs 197.54 crore and (62 per cent of TIO) and was almost flat (went up by 0.5 per cent) QoQ as compared to Rs 282.57 crore (61.6 per cent of TIO).

    Technician’s Fees in the current quarter increased 19.6 per cent YoY to Rs 7.88 crore (1.7 per cent of TIO) as compared to Rs 6.35 crore (2.1 per cent of TIO), but declined 19.3 per cent QoQ from Rs 9.77 crore (2.2 per cent of TIO).

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the twelve quarters starting Q4-2013 until the current quarter Q2-2016. EBE has been the highest in Q2-2016 (62.4 per cent) in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015 at 64 per cent.

    Finance and Interest cost in Q12-2016 at Rs 25.11 crore (5.4 per cent of TIO) increased 45.3 per cent YoY from Rs 17.28 crore (5.4 per cent of TIO) and increased 41.4 per cent QoQ from Rs 17.75 crore (four per cent of TIO).

  • Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    BENGALURU: Prime Focus Limited (PFL) reported 47 per cent YoY revenue growth for the quarter ending 31 December, 2015 (Q2-2016, current quarter) at Rs 468.52 crore from Rs 318.67 crore in Q2-2015 and 4.4 per cent higher QoQ as compared to Rs 448.57 crore in the immediate trailing quarter. The company reported more than double (2.02 times) YoY EBITA at Rs 75.56 crore (15.3 per cent margin) as compared to Rs 35.48 crore (11.1 per cent margin) and 37.4 per cent higher QoQ as compared to Rs 52.07 crore (11.6 per cent margin).

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore
    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence YoY comparison is being done between Q2-2016 and Q2-2015 and QoQ comparison is between Q2-2016 and Q1-2016 (quarter ended September, 2015).

    The company reported a lower net loss of Rs 11.40 crore in Q2-2016, a loss of Rs 36.17 crore in Q2-2015 and a loss of Rs 22.51 crore in Q1-2016. 

    Let us look at the other numbers reported by PFL

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q2-2016 at Rs 284.10 crore (62.4 per cent of TIO) was 43.8 per cent higher YoY as compared to Rs 197.54 crore and (62 per cent of TIO) and was almost flat (went up by 0.5 per cent) QoQ as compared to Rs 282.57 crore (61.6 per cent of TIO).

    Technician’s Fees in the current quarter increased 19.6 per cent YoY to Rs 7.88 crore (1.7 per cent of TIO) as compared to Rs 6.35 crore (2.1 per cent of TIO), but declined 19.3 per cent QoQ from Rs 9.77 crore (2.2 per cent of TIO).

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the twelve quarters starting Q4-2013 until the current quarter Q2-2016. EBE has been the highest in Q2-2016 (62.4 per cent) in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015 at 64 per cent.

    Finance and Interest cost in Q12-2016 at Rs 25.11 crore (5.4 per cent of TIO) increased 45.3 per cent YoY from Rs 17.28 crore (5.4 per cent of TIO) and increased 41.4 per cent QoQ from Rs 17.75 crore (four per cent of TIO).

  • Q1-16: Prime Focus YoY revenue up 28.1 percent

    Q1-16: Prime Focus YoY revenue up 28.1 percent

    BENGALURU: Prime Focus Limited (PFL) has reported a 28.1 percent YoY revenue growth for the quarter ending September 30, 2015 (Q1-2016, current quarter) at Rs 448.57 crore as compared to the Rs 350.17 crore in Q1-2015. However, QoQ, the company’s revenue declined 13.4 percent from Rs 518.21 crore.

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence YoY comparison is being done between Q1-2016 and Q1-2015 and QoQ comparison is between Q1-2016 and  Q4-2015 (quarter ended June, 2015).

    The company’s quarterly bottom line has been negatively affected due to significant exceptional costs primarily in relation to previously announced divestiture of PFL PLC and planned restructuring / integration costs in relation to the merger with Double Negative. In Q1-2016, this amounted to Rs 12.26 crore, in Q4-2015 it was 159.29 crore and in Q1-2015 this figure was Rs 34.27 crore.

    The company reported a net loss of Rs 22.51 crore in Q1-2016; a loss of Rs 22.01 crore in Q1-2015 and a loss of Rs 213.76 crore in the immediate trailing quarter Q4-2015.

    The company’s simple EBIDTA for Q1-2016 at Rs 52.07 crore (11.6 percent margin) more than quadrupled (4.7 times) YoY from Rs 11.19 crore (3.2 percent margin, but declined 39.6 percent from Rs 86.17 crore (16.6 percent margin) in Q4-2015.

    Let us look at the other numbers reported by PFL

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q1-2016 at Rs 282.57 crore (61.6 percent of TIO) increased 21.4 percent YoY from Rs 232.77 crore (60.4 percent of TIO) and increased 7.4 percent QoQ from Q4-2015 at Rs 263.11 crore (50.8 percent of TIO).

    Technician’s Fees in the current quarter increased 53.8 percent YoY to Rs 9.77 crore (2.2 percent of TIO) from Rs 6.35 crore (1.8 percent of TIO) and increased 6.1 percent QoQ from Rs 9.21 crore (1.8 percent of TIO)

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the eleven quarters starting Q4-2013 until the current quarter Q1-2016.  EBE has been the highest in Q1-2016 (61.6 percent) in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015 at 64 percent

    Finance and Interest costs in Q1-2016 at Rs 17.75 crore (4 percent of TIO) increased 12 percent YoY from Rs 15.84 crore (4.5 percent of TIO), but declined 30.1 percent QoQ from Rs 25.39 crore (4.9 percent of TIO).

  • FY-15: Prime Focus revenue up 80%; Q4-2015 YoY revenue up 2.4 times

    FY-15: Prime Focus revenue up 80%; Q4-2015 YoY revenue up 2.4 times

    BENGALURU: Prime Focus Limited (PFL) reported 80 per cent revenue growth for the year ending 30 June, 2015 (FY-2015) at Rs 1607.59 crore as compared to the Rs 892.9 crore during the corresponding 4 quarter (12 month period) of the previous year. Last year, the company had reported revenue of Rs 1081.42 crore for the 15 month period ended 30 June, 2014.

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore

    (2) The company had filed results for a fifteen month period ended 30 June, 2014, hence YoY comparison is being done between Q4-2015 and Q5-2014 and QoQ comparison is between Q4-2015 and  Q3-2015 (quarter ended 31 March, 2015).

    YoY, PFL’s revenue increased by 2.4 times in Q4-2015 at Rs 518.21 crore as compared to the Rs 214.99 crore in Q5-2014.

    AnchorThe company’s yearly and quarterly bottom line has been negatively affected due to significant exceptional costs primarily in relation to previously announced divestiture of PFL PLC and planned restructuring / integration costs in relation to the merger with Double Negative.

    The company reported a net loss of Rs 292.22 crore in FY-2015 and a loss of Rs 213.76 crore in Q4-2015. The company’s simple EBIDTA for FY-2015 at Rs 241.23 crore (15 per cent margin) was 22.6 per cent more than the Rs 196.76 crore (19.1 per cent margin) for the 15 month period ended 30 June, 2014. PFL says in its earnings release that EBIDTA for the 12 month period ended 30 June, 2014 was Rs 179.6 crore.

    EBIDTA for Q4-2015 at Rs 86.17 crore (16.6 per cent margin) was more than five times the Rs 14.29 crore (6.6 per cent margin) in Q5-2014, but declined 18 per cent as compared to the Rs 105.15 crore (25 per cent margin) in the immediate trailing quarter.
     

    Let us look at the other numbers reported by PFL:

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q4-2015 at Rs 263.11 crore (50.8 per cent of TIO) was 13 per cent more the Rs 232.94 crore (64 per cent of TIO) in Q3-2015 and more than double (2.07 times) the Rs 127.11 crore (59.1 per cent of TIO) in Q5-2014.

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the nine quarters starting Q4-2013 until the current quarter Q3-2015. EBE has been the highest in Q4-2015 in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015.

    Finance and Interest cost in Q4-2015 at Rs 25.39 crore (4.9 per cent of TIO) was 45.1 per cent more than the Rs 17.50 crore (8.1 per cent of TIO) in Q5-2014 and 78.69 per cent more than the Rs Rs 14.21 crore (3.4 per cent of TIO) Q3-2015.